Court dismisses petition challenging PIA privatization

LAHORE: The Lahore High Court, Rawalpindi bench, on Thursday dismissed a petition challenging the privatization of Pakistan International Airlines (PIA), affirming that the process was conducted legally and transparently.

According to reports, the petitioner had alleged irregularities and a lack of transparency in the PIA privatization process. However, the court ruled that the procedure complied with the provisions of the Privatization Commission Ordinance, Articles 23 and 24, as well as Article 173 of the Constitution and the 2000 Ordinance.

The judgment noted that the government holds 96 percent of PIA shares and that a competitive sale was necessary to help the airline overcome its financial crisis. The court further stated that the Privatization Commission has performed its duties lawfully and that the judiciary cannot interfere in economic policy matters.

The ruling emphasized that the privatization process was fair, transparent, and consistent with legal and constitutional requirements. Barrister Manal Tariq appeared on behalf of the Privatization Commission in court.

Also Read: Privatization of PIA’s Roosevelt hotel faces fresh delay

Earlier, the privatisation of Pakistan International Airlines’ (PIA) Roosevelt Hotel in the United States had been delayed once again as the process for appointing a new financial advisor had been restarted.

According to the Privatization Commission, fresh applications have been invited from companies for the appointment of a financial advisor. Interested firms will be required to submit an application along with a non-refundable fee of 1,000 US dollars.

Applications for the financial advisor’s services must be sent to the Privatization Commission in Islamabad by 2nd September.

Similarly, Pakistan International Airlines’ (PIA) privatization process gained further momentum, as one of the bidding companies is scheduled to visit the PIA head office.

Sources reveal that the visiting company will inspect PIA aircraft and will be granted access to key airline records for evaluation purposes.

The company officials are also expected to tour other critical PIA facilities.